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CCP 06202022
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CCP 06202022
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8/11/2022 12:08:27 PM
Creation date
8/11/2022 12:08:06 PM
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Roseville City Council
Document Type
Council Agenda/Packets
Meeting Date
6/20/2022
Meeting Type
Regular
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CITY OF ROSEVILLE, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2021 <br />B.Contingent liabilities <br />The City had the usual and customary types of miscellaneous claims pending at year-end mostly of a <br />minor nature, and usually all covered by insurance carried for that purpose or the City has reserved <br />for settlement. The City also carries personal injury insurance against suits for false arrest, libel, <br />slander, violation of privacy, wrongful entry, etc. which can arise from enforcement of the city code <br />and general laws. Although the outcome of these lawsuits is not presently determinable, in the <br />f these mater will not have a material <br />adverse effect on the financial condition of the government. <br />C.Employee retirement systems and pension plans <br />1. <br />A.Plan Description <br />The City participates in the following cost-sharing multiple-employer defined benefit pension plans <br />defined benefit pension plans are established and administered in accordance with Minnesota <br />Statutes, Chapters 353 <br />under Section 401(a) of the Internal Revenue Code. <br />1.General Employees Retirement Fund (GERF) <br />All full-time (with the exception of employees covered by PEPFF) and certain part-time <br />employees of the City are covered by the General Employees Retirement Fund (GERF). <br />GERF members belong to the Coordinated Plan. Coordinated Plan members are covered by <br />Social Security. <br />63 <br /> <br />
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